ICCPL PROPERTY NEWS

Gurgaon realty readies for a complete Infrastructure revamp

Gurgaon has evolved as a hub of corporates and multinationals in the last decade. The real estate sector has witnessed a corresponding rise in residential values and demand although infrastructure still remains a primary concern for this millennium city.

The government as well as investors are betting big on the city with numerous plans in the offing to address this concern. With a multitude of plans as outlined in the Gurgaon-Manesar Master Plan 2031 which includes an ambitious rapid metro rail project, Gurgaon is likely to witness a face lift in the near future. With additional enhancements of internal road and rail network, Gurgaon’s connectivity woes might be a thing of the past. 

Residential real estate in Gurgaon is already on fast track development. Improvements in infrastructure, fast connectivity and upcoming realty projects of international standards are further going to give Gurgaon realty a shot in the arm.

A quick look at the key infrastructure developments in Gurgaon:

• Some of the designated special economic zones (SEZs) have been converted into 7 new residential and commercial sectors
• Permitted population density has been increased to 100-120 people per acre from 80-100 people per acre earlier 
• 16,000 hectares of land has been earmarked for residential purpose 
• 1,600 hectares allotted for commercial purpose, 4,600 hectares for industrial areas and 4,400 hectares for transport and communication facilities
• Public utilities have been allocated 600 hectares, public and semipublic facilities 2,000 hectares and 2900 hectares for open spaces 
• A 60 metre-wide road between industrial Sectors M3A and M4 will be further extended through the Aravali hills 
• High-speed metro service, airport express link between Sector 21 (Dwarka) and IFFCO Chowk (Gurgaon) has also been proposed
• Increase in the size of Sector 37-D
• Proposed 1600 Acres campus of IMT to have a sports, leisure and leather hub 
• Allotting the whole land piece in between Gadoli Khurd and old sector-37D to builder Ramprastha
• Land on the northern side of Pataudi Road being converted into residential and commercial zones as well

Gurgaon Infrastructure Plans: What all is in store

 

Gurgaon realty readies for a complete Infrastructure revamp

According to the Master Plan 2031, which merges Gurgaon and Manesar, the city will have more residential property units, social infrastructure like schools, hospitals, playgrounds, and physical infrastructure. The new master plan aims to create accommodation for an additional 21 lakh people. In the first phase of development of the Rapid Metro, Cyber City will be connected to the Sikanderpur metro station improving the internal accessibility. The second phase will connect the Sikanderpur Metro Station to Sector 55 and Sector 56 as well as the Golf Course Road.

The remaining two phases of rapid metro will have a major impact on property demand as Phase II will pass through DLF City Phase I, IV and V, independent houses and gated communities in Sectors 27, 28, 51, 52, 53, 54, 55, 56 and 57. The metro line is expected to cover localities such as Golf Course Road and Central park.

Several other plans such as rain water harvesting plans, broadening of NH8, increasing power supply in several more regions, renovating the internal roads of the city and major work on waste management are being approved but the work on it is yet to commence. “The major constraint is that of time. The others are manpower and allocation of funds,” adds Kamal Batra.

On the roadways front, the DLF redevelopment plan intends to make Golf Course Road one of the best roads in India, with plans to link Cyber City to this road via a 16-lane corridor. This will ease the vehicular traffic on this stretch. The detailed project report (DPR) for the extension will be ready in another six months and once the DPR is ready, the Haryana government will approach the Centre for project approval, reports say.

Gurgaon has always developed as an industrial and commercial hub of National Capital Region (NCR) as most of the multinationals and industrialists have their setup present in the region. Kushagr Ansal, Director of Ansal Housing points out that the recent nod by the National Green Tribunal (NGT) to widen NH8 will further boost the existing real estate demand in the region. Although, the roadway maintenance in the region seems to be a bit of a problem as there are a lot of residents and commuters travelling within and around Gurgaon every day, he quips.

A Detailed Project Report (DPR) of the airport express link between Sector 21 (Dwarka) and IFFCO Chowk (Gurgaon) through high-speed metro rail is being examined, says Vikas Gupta, MD of Earth Infrastructure. The Haryana government also proposed that Gurgaon should be taken under Jawaharlal Nehru National Urban Renewal Mission (JNNURM) or necessary funds should be provided for running buses in the city.

Haryana government has also prepared development plans for 25 out of the 35 towns covered under the Haryana-NCR sub region. The state government has taken necessary steps to develop metro rail and road connectivity between Delhi and adjacent towns including Gurgaon.

 

SOURCE: 99acres.com (http://www.99acres.com/articles/property-trendz/811-gurgaon-realty-readies-for-a-complete-infrastructure-revamp.html)

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